Nasdaq establishes FinTech investment program

Minority investments made by Nasdaq Ventures will range from under $1 million to approximately $10 million.

Nasdaq has launched a venture investment program dedicated to discovering, investing in and partnering with FinTech companies.

Known as Nasdaq Ventures, the program will focus initially on blockchain technology, machine learning, artificial intelligence, big data and analytics.

The exchange group said its main objective is to identify and collaborate on new technologies and services which align with Nasdaq’s clients needs.

A former managing director at Morgan Stanley, Gary Offner, will lead Nasdaq Ventures and he will report to head of corporate strategy, Jean-Jacques Louis.

Minority stake investments made by the program are expected to range from less than $1 million to approximately $10 million, Nasdaq said. 

Adena Friedman, CEO at Nasdaq, explained the launch reflects the exchange operator’s focus on “driving growth and innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients.”

Nasdaq said the investment program began unofficially in late 2015 and has since partnered with a blockchain infrastructure provider, a machine intelligence company and a real-time analytics firm.